Elan aims to complete Zonegran deal in April

Pharmaceutical firm Elan has sold its interests in anti-epileptic drug Zonegran to Eisai for $130m (€106.41m) if the deal is finalised by the end of April.

If the deal is concluded after April 30, Elan will receive $110m (€90.04m) for the US rights, $25m (€20.46m) for the European rights and additional deferred payments on net sales if certain conditions are met.

Elan will continue to manufacture Zonegran in all three dosage strengths of 25 mg, 50 mg, and 100 mg capsules in Athlone, Co Westmeath.

Elan President and CEO Kelly Martin said: "This transaction further aligns Elan's strategy in research, development, sales and marketing with our therapeutic areas.

"In research, it sharpens our focus in neurology, in which we continue research and advances in neurodegenerative diseases, including multiple sclerosis, Alzheimer's disease, and Parkinson's disease.

"In development, sales, and marketing, it enables us to focus our resources on the expected launch of our late-stage pipeline candidates, Antegren for multiple sclerosis and Crohn's disease, and Prialt for severe pain.

"In addition, the agreement creates an opportunity for Eisai to leverage the potential for Zonegran," Martin added.